Buying a piece of Magic (Mountain)

The southern Vermont ski area has started selling shares in a new limited liability corp. plan, beginning today. The ski resort, with about 1,700 feet of vertical drop, is selling 1,000 shares at $3,000 each.

Magic has long been a bit player in the otherwise-lucrative southern Vermont ski scene. While neighbor resorts — Okemo, Stratton, Mount Snow, Bromley — count their skier visits in the hundreds of thousands, Magic gets only around 16,000 in a good year.

The sale was to take place last spring, but was delayed after the death of the property owner, 82-year-old Larry Nelson. The idea is to raise $3 million to help improve snowmaking at the resort and market it to the downstate market.

If all shares are sold, investors will own 60 percent of the mountain, which is located in Londonderry, Vt., about 90 minutes from the Capital Region. Magic shareholders will enjoy an equity position in the mountain, season pass discounts, reduced ticket prices, and voting rights in operational decisions.

The idea is modeled after the successful cooperative plan at Mad River Glen to the north. However, because of the legal structure, the Magic plan cannot be called a co-op, officials said.

Mad River’s success may not be directly comparable to Magic. Mad River is a unique mountain, with a single-chair lift, very little grooming and snowmaking and some seriously sick terrain. It’s a world-famous resort with an incalculable amount of retro value and a huge fan base.

And Mad River officials say their model wouldn’t work if snowmaking was factored into the equation. At Magic, snowmaking is the biggest expense.

Still, officials at Magic are hopeful their offer will generate enough interest to keep the business going.

“This opportunity brings the dream of owning a piece of a ski mountain and having a say in how it is run to individual ski enthusiasts and in particular those who love Magic and what it represents,” said President James Sullivan.

Want a piece? Click here. If you’re interested in attending an information meeting at the resort about the sale, click here.